Friday, June 27, 2025
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FloridaLoansMixed-UseSoutheast

Greystone Provides $419.6M Refinancing for Panorama Tower in Miami

by John Nelson

MIAMI — Greystone has closed a $419.6 million financing package for the refinancing of Panorama Tower, an 85-story mixed-use skyscraper located on Brickell Bay Drive in Miami’s Brickell district. The tower features 821 apartments; 112,731 square feet of Class A offices; 25,219 square feet of retail space; a 2,000-space private parking garage; and an attached 19-story, 208-room Hyatt Centric hotel. The financing package included a nearly $335 million Freddie Mac Optigo senior loan that was underwritten with a five-year term and 35-year amortization schedule. The financing also included $85 million of “agency-compliant subordinate debt” and preferred equity led by an unnamed global pension fund. The borrower is Florida East Coast Realty, an entity led by the Hollo family.

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DevelopmentFloridaMultifamilySoutheast

Catalfumo Cos. Receives Approval for 620 Additional Units at Gardens Station Multifamily Project in South Florida

by John Nelson

PALM BEACH GARDENS, FLA. — Catalfumo Cos. has received approval from the City of Palm  Beach Gardens for the development of an additional 620 multifamily units at its Gardens Station project in South Florida. Project partner The Richman Group of Cos. is currently underway on the construction of the originally planned 398 units. Located at 11025 RCA Center Drive, the community will total 1,016 apartments, with more than 100 residences dedicated to workforce housing. Gardens Station is situated within the larger PGA Station transit-oriented development, which also features office space and apartment community The Marc, which is scheduled for delivery later this year. The new addition to Gardens Station was designed by Corwil Architects. A construction timeline was not disclosed.

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DevelopmentFloridaIndustrialLeasing ActivitySoutheast

RoadOne IntermodaLogistics Leases Full 422,136 SF Industrial Building in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — RoadOne IntermodaLogistics has signed a 422,136-square-foot industrial lease at 1000 Imeson Park Blvd. in Jacksonville. A joint venture between North Signal Capital and an affiliate of Fox Capital Partners, doing business as JAX-IMESON JV LLC, is the landlord. Luke Pope of JLL represented the landlord in the lease negotiations. The tenant will fully occupy the property, which features tilt-up concrete construction, 36-foot clear heights, an ESFR sprinkler systems, LED lighting, 216 car parking spaces, 180 trailer parking spaces and two drive-in doors. RoadOne plans to implement improvements at the facility, including the addition of dock levelers to each of the 81 dock-high doors, fencing around the entire site, a guard shack and a 100,000-square-foot climate-controlled section. RoadOne is operating in the warehouse throughout the construction, which is scheduled for completion later this year.

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DevelopmentFloridaLoansOfficeSoutheast

CBRE Arranges $37.9M Construction Financing for New Jacksonville Jaguars Headquarters

by John Nelson

JACKSONVILLE, FLA. — CBRE Capital Markets has arranged $37.9 million in construction financing for the development of the new Jacksonville Jaguars headquarters in Jacksonville. Philip Rachels and Jeff Kinney of CBRE secured the 10-year financing through First Horizon Bank on behalf of the borrower, Shipyards Office LLC, a subsidiary of Iguana Investments Florida LLC, an investment entity owned by Jaguars owner Shad Khan.  Situated along East Bay Street and adjacent to EverBank Stadium, the football team’s home stadium, the office building will total 143,000 square feet across six floors, including 9,670 square feet of ground-level retail space. The Jaguars will lease three floors of the building, with two of the remaining floors marketed for lease. An affiliate of the Jaguars will occupy and operate a portion of the ground floor as a fitness facility. A construction timeline was not disclosed.

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AcquisitionsFloridaRetailSoutheast

Sembler, Forge Capital Acquire 133,419 SF Publix-Anchored Shopping Center in Leesburg, Florida

by John Nelson

LEESBURG, FLA. — A joint venture between The Sembler Co. and Forge Capital Partners, doing business as Forge Real Estate Partners V LP, has acquired Palm Plaza, a 133,419-square-foot shopping center located at 715 N. 14th St. in Leesburg, a city in Central Florida. Crosspoint sold the property for $17.8 million. Publix anchors Palm Plaza, which was 92 percent occupied at the time of sale. Other tenants at the center include Planet Fitness, Popeyes, Quest Diagnostics, Rent-A-Center, Firehouse Subs, Core Health, OneMain Financial, T-Mobile and The UPS Store. Brad Peterson, Whitaker Leonhardt and Tommy Isola of Colliers represented the seller in the transaction.

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FloridaLeasing ActivityMixed-UseRetailSoutheast

H&M Signs 25,000 SF Retail Lease at Shops at Brickell City Centre in Miami

by John Nelson

MIAMI — H&M has signed a 25,000-square-foot lease to occupy an anchor space at The Shops at Brickell City Centre (BCC) in Miami. Scheduled to open later this year, the global clothing retailer will occupy two levels at the property, which serves as the primary retail component of BCC, a 4.9 million-square-foot mixed-use development that first opened in 2016. Developed by Swire Properties, BCC also features two residential towers, two office buildings, food hall and the EAST Miami hotel. Other tenants at the development include a flagship Saks Fifth Avenue, Zara, Levi’s and Chanel Fragrance and Beauty Boutique.

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AcquisitionsFloridaMultifamilySoutheast

JBM Brokers $66.5M Sale of Charlotte Commons Apartments in Southwest Florida

by John Nelson

PORT CHARLOTTE, FLA. — JBM Institutional Multifamily Advisors has brokered the sale of Charlotte Commons, a 264-unit apartment community located in the Southwest Florida city of Port Charlotte. An unnamed New York-based company and Image Capital purchased the Class A property for $66.5 million. The seller, Indiana-based SC Bodner Co., developed Charlotte Commons in 2022. The property comprises 11 three-story buildings with studios, one- and two-bedroom apartments averaging 846 square feet in size. Amenities include a resort-style pool with a sun deck, grilling stations, shaded outdoor lounge area, fitness center, clubhouse with a business center, bark park, pickleball courts and 57 garages available for rent.

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AcquisitionsFloridaRetailSoutheast

SRS Negotiates $2.8M Sale of South Florida Retail Property Leased to MD Now

by John Nelson

LAKE WORTH, FLA. — SRS Real Estate Partners has negotiated the $2.8 million sale of a single-tenant retail property located at 9955 Lake Worth Road in Lake Worth, a suburb of West Palm Beach. The South Florida store, which opened on a 0.6-acre parcel in August, has a 10-year corporate-guaranteed lease in place with MD Now, an urgent care provider with more than 60 locations. Patrick Nutt and William Wamble of SRS represented the seller, a locally based development firm, in the transaction. An unnamed private investor based in Florida purchased the store in a 1031 exchange. The 3,250-square-foot store is situated within Woods Walk Plaza, an 88,000-square-foot shopping center anchored by Publix.

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DevelopmentFloridaLoansMultifamilySoutheast

Madison Communities, Heitman Obtain $44M Construction Loan for Southwest Florida Apartment Development

by John Nelson

BONITA SPRINGS, FLA. — Madison Communities and Heitman have obtained a $44 million construction loan for the development of Madison Bonita Springs, a 252-unit apartment development in Southwest Florida. Patterson Real Estate Advisors arranged the financing through First Citizens Bank on behalf of the developers. The Class A community will be located on Bonita Beach Road adjacent to the I-75 interchange. BenCo, Madison Communities’ in-house general contractor, plans to deliver Madison Bonita Springs by the end of 2025.

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DevelopmentFloridaHospitalitySoutheast

Southern Hospitality Breaks Ground on First Extended Stay America Select Suites Hotel in Central Florida

by John Nelson

WILDWOOD, FLA. — Southern Hospitality has broken ground on the first new construction of the Extended Stay America Select Suites prototype hotel. The four-story, 124-room hotel will be located in Wildwood, a city in Central Florida near The Villages master-planned community. The 50,000-square-foot property will be situated on less than two acres and feature apartment-like suites with full kitchens and onsite laundry services. Southern Hospitality and operator Extended Stay America plan to open the hotel in early 2025.

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